Do not let anyone tell you otherwise – being a student is expensive. From paying your tuition to investing in gadgets, the duration of your studies can be expensive. Then, out of the blue, someone comes along and damages your gadgets.
It can be a distraught-filled situation because you spent a great deal of money to acquire those gadgets. However, you may be able to get a new set of gadgets if you have student content insurance.
In this article, you are going to find out the meaning of student content insurance and what it covers.
What is University Student Content Insurance?
It is a type of insurance policy that covers the belongings of a student in the UK. As a student, you are susceptible to having your possessions stolen, damaged or misplaced. When any of those happens, you have to replace the items.
It could dip a lot of holes in your already “leaking” financial pockets. Why not use the student home content insurance to protect those items from theft, vandalism and loss?
Is Content Insurance Mandatory for Students?
No, home content insurance isn’t a mandatory insurance policy. In light of the expenses and loss that come with losing your possessions, you need it.
Your student content insurance provider will cover items like your electronics, furniture and clothing. That way, you wouldn’t necessarily have to pay to have them replaced if damaged or stolen.
Do Students Need Content Insurance? What Does It Cover?
As mentioned earlier, the policy covers the possessions you have there with you in the hostel or shared apartment.
Some students may argue that their parent’s home content insurance policy has them covered. That isn’t always the case because that policy is mostly effective in the home. The moment you step out, it literally “goes away.”
Therefore, getting home content insurance for students is important if you live alone or in the hostel.
Below are some of the items or possessions covered in the policy:
- Gadgets, such as laptops and smartphones.
- Sporting equipment
- Room keys
Basically, the student content insurance covers you for the items you need in the shared apartment or dormitory. Also, these items must be considered “high-risk” or susceptible to theft.
What happens if the items are stolen outside your shared apartment or dormitory? The insurance company may be unable to cover those except you bought an extra layer of protection. In that case, you are buying another insurance policy as an add-on to the student home content insurance.
For example, you can purchase gadget insurance if you intend to take your gadgets with you. That way, the insurer would be able to cover the loss, theft or damage of the named gadgets outside your shared apartment.
How to Reduce Student Content Insurance
You can save costs on contents insurance for shared house. Even if you are covered with your parent’s policy, you will need the student content insurance sometime.
Here are some of the best ways to negotiate your coverage:
1. Take Advantage of Discounts
Some student content insurance companies offer discounts. That way, you get to save some extra bucks to purchase the policy.
An example is the 10% discount offered by Endsleigh. The company is one of the leading providers of student content insurance in the UK.
The current offer for student content insurance at Endsleigh helps early registrants of the studentGuard coverage to earn up to £250. studentGuard is a dedicated student content insurance policy by Endsleigh, allowing students to get better coverage in the UK.
2. Be Conscious of the Items to Insure
The fact is that you don’t necessarily need to cover every of your belongings with student content insurance. The rule of thumb is to only cover those items you need the most, for example, your laptop and smartphone.
Another important factor here is that the possessions you insure may be “uninsurable.” For example, items that are already “on their last legs” may not be covered. So, check how long you have used the items and see if they are worth penciling down for student content insurance or not.
3. Make Student Insurance Comparison
Do not jump at the first student content insurance you receive. Always compare your options. You can use platforms like ComparetheMarket, MoneySuperMarket and GoCompare to make your student insurance comparison.
Here is a list of some of the things to look for when making the comparison:
- The coverage options.
- The average cost of getting insured.
- Terms and conditions of getting the student content insurance from the company.
4. Take Extra Protective Measures
The primary benefit of purchasing student content insurance is to protect the possessions that matter the most to you.
However, you don’t necessarily need to leave the entire protection to the insurance company. You may be able to negotiate and getter lower quote for student contents insurance if you prove to be strategic with your protective measures.
The idea is to do things that prove to the insurer that you are interested and putting your efforts to keep the items safe.
Efforts like installing a household alarm system or locking your doors when away can help lower your rates.
5. Buy Separate Policies
You can also cut down on how much you spend on the policy by buying different policies. For example, buy the medical insurance policy for your health. You may also want to purchase gadgets insurance to protect your gadgets, such as smartphones and laptops.
That way, you will cover only a few items on the main student content insurance.
6. Don’t Forget to Haggle
Always haggle or negotiate the offer from the insurer. The issue of how much does student insurance cost varies by the insurance provider.
However, you stand a better chance of getting lower rates if you can haggle. Before haggling, make sure you have what it takes to make a good negotiation or offer. Here are some factors that can help you in the haggling process:
- Chip in that you have better deals elsewhere.
- Mention that you are willing to pay upfront or make a bulk premium payment at once.
- Let the student content insurance insurer know that only a few items are to insured.
Conclusion: Get the Best Student Contents Insurance in the UK
The rule to getting the best and cheapest student contents insurance in the UK is to cover only a few items. You can also do that if you shop around for discounts. Speaking of discounts, Endsleigh’s 10% offer is going away soon. Check out the website to see what it takes to claim it! Finally, obtaining insurance for college student personal property is a great way to protect the items that cost you a lot of money to acquire.